Closing On Your Loan: What To Expect After Approval

Almost home, so let’s work together to complete the final items needed to close your loan quickly. Please review these lists to help make this process go as smoothly as possible.

Home Purchase Loans: Shortly after approval you and your attorney will receive an email and/or phone call detailing the final items needed to schedule your loan closing. All loans will need the following items:

Homeowners Insurance Binder with 1 year premium paid in full listing the following as the first mortgagee: Trustco Bank ISAOA 3 Sarnowski Drive Glenville NY 12302

If there are other items needed to close your loan, they will be listed under Item 11 on your commitment letter

Refinance First Mortgage, Home Equity Loan, and Home Equity Credit Line: Shortly after approval you will be contacted via email and/or phone call detailing the requirements needed to complete your closing documents. All loans will need the following items:

Internal Title Search: This is completed by Trustco. Important: Any party that is listed on the deed as an owner or has the right to live on the property must attend the closing to authorize a lien on the property

Homeowners Insurance Binder listing Trustco Bank as the mortgagee: Trustco Bank ISAOA 3 Sarnowski Drive Glenville NY 12302. We must be listed on the insurance binder in the same position our lien will be in.

Current Paid Property and School Tax Bills if there is a balance outstanding a check will be issued from the loan proceeds to ensure all tax bills are up to date and current

If there are other items needed to close your loan, they will be listed under Item 11 on your commitment letter

As always, if there are any questions you may have, please call the Closing Department at 518-381-3688 for Northeast Loan Closings, or 407-659-5712 for Florida Loan Closings.